Are the cost of vehicles in T&T too high or justified?

[francis1979]

Are the cost of vehicles in T&T too high or justified?

Is it because of:
(1) High landed prices in T&T due to small market size
(2) Government Taxes
(3) High mark-up by Dealership

I did a quick calculation based on US prices as cost for the dealer; and they are making over 20% mark-up. The mark-up would cover profit and local operating expenses. ( I assumed in my calculation that the landed price (CIF) in T&T is equal to US MSRP prices; however I think thier prices may be lower)

US MSRP Prices from Mazda Website in USD

Mazda 2 = $15,635
Mazda 3 ( 2L ) = $15,800 - $18,100
Mazda 6 (2.5L) = $22,635 - $26,820 ( I series)
CX7 = $26255 (CX-7i)
CX9 = $31,055 (T Series)


The prices are not the selling prices. You usually obtain a discount (+/- 10%) after bargaining; but still need to add Dealer Fee(USD $500-1000), TAX (8%)& Doc Fees(USD $200). However this depends on the State.

3-year/60,000km*: "Bumper-to-Bumper" Limited Warranty
5-year/97,000km*: Limited Powertrain Warranty

T&T Prices from tuner

Mazda2 = $170,000.00

Mazda3
$185,000.00 1.6 Grade V
$205,000.00 1.6 Grade V fully equipped

Mazda6
$280,000.00 2.0

CX-7 : $395,955.00 2.3 turbo, gas

CX-9 : $620,000.00 3.7 V6 7-seater

Warranty: 3 years of 100,000k,


The Motor Vehicle Tax (MVT) on the importation of Private Motor Vehicles has been increased in the following order:
Engine Size Motor Vehicle Tax per CC Rating
Current Proposed
1599 cc and under from 0 to $5 per cc
1600-1799 cc from $4 to $8 per cc
1800-1999 cc from $8 to $15 per cc
2000-2499 cc from $21 to $25 per cc
2500-2999 cc from $25 to $30 per cc
3000-3499 cc from $30 to $35 per cc
3500cc and above from $45 to $50 per cc

Customs duty is normally payable at the following rates:
(i) Vehicles with an engine size not exceeding 1599 cubic capacity (cc) - 25%
(ii) Vehicles with an engine size exceeding 1599 cc but not exceeding 2000 cc-35%
(iii) Vehicles with an engine size exceeding 2000 cc but not exceeding 3000 cc-40%
(iv) Vehicles with an engine size exceeding 3000 cc-45%

Customs duty is based on the Cost, Insurance and Freight (C.I.F.) Value of the vehicle

http://www.customs.gov.tt/docs/Returnin ... ionals.pdf

[RapToR]

No. 2

[Bizzare]

No. 2

Is sh!t yuh saying the OP post dey?

[Morpheus]

2 and 3. ESPECIALLY 2!

[salvation4U]

Everything is trinidad is robbery if is not KFC is cars if not that is car fares (passage) man looking to dig out yuh eye anyway yes..........you could get a used almera for about $8000TT ($US1250) in singapore....them foreign used car dealers does buy cars like these d newer ones and may change the age of the car i.e to make it less than 5years old via paper works (corruption) and they import dem....then they carry dem to a straighten and paint shop to carryout some repairs to the body paint it over to make it look like new...........and they then sell it to us making big profits..........in some cases they buy damage cars for dog cheap price cause none of those first world countries want those damage cars simply because it is too much to repair and they just export it to the 3rd world nations they then resurrect those cars to make it look like new and you know trinis buy it because they dont know.............fortunately I cannnot afford a car.

Look for almera for example

[Stephon.]

Yeah we are taxed etc etc. But some of the prices are just a big overdo, but it's the citizens fault ultimately.

[~Vēġó~]

2,3....

price is too fkn high!!!! but like it not affecting many ppl as they more than able to buy....

[S_2NR]

2 and 3 definitely

[homeboy]

Trinis have money, just bling it and bring it.....I say 3 only with 2 being the minority.....

[hustla_ambition101]

Dealerships keep telling people that their stock sold out and they have to wait for the next shipment, vehicles selling like hot bread, so even if prices are over inflated, they will continue to be so since Trinidadians buying still

[TK!]

(2) Government Taxes

[pugboy]

we are a land of haves and have nots, learn to live with it
besides 90% of dealer new cars are bought by companies

[- Rovin's car audio -]

blame PP since them was d ppl in power who raise d taxes so now u hardly finding any FU under 100k ...

[sharkman121]

Dealerships keep telling people that their stock sold out and they have to wait for the next shipment, vehicles selling like hot bread, so even if prices are over inflated, they will continue to be so since Trinidadians buying still

exactly, simple supply and demand, so as long as the demand is still high....

[sliderz1]

Everything is trinidad is robbery if is not KFC is cars if not that is car fares (passage) man looking to dig out yuh eye anyway yes..........you could get a used almera for about $8000TT ($US1250) in singapore....them foreign used car dealers does buy cars like these d newer ones and may change the age of the car i.e to make it less than 5years old via paper works (corruption) and they import dem....then they carry dem to a straighten and paint shop to carryout some repairs to the body paint it over to make it look like new...........and they then sell it to us making big profits..........in some cases they buy damage cars for dog cheap price cause none of those first world countries want those damage cars simply because it is too much to repair and they just export it to the 3rd world nations they then resurrect those cars to make it look like new and you know trinis buy it because they dont know.............fortunately I cannnot afford a car.

Look for almera for example

almera.JPG

almera_front.jpg

back.jpg

inside.jpg

remember this price is based on mileage of 101k kms + and 2001 model (which is older than 4 yrs where licensing is concerned)...........

@ 2008 price was roughly $6000 USD FOB when i imported

[r3iXmann]

It's number 3 for sure

Trinis can't complain about tax.. do a little research into what other caribbean countries pay for vehicle imports and you'll see

[r3iXmann]

http://www.jacustoms.gov.jm/docs/MV_Rat ... 2_2011.pdf

what Jamaicans pay ^

the prices of cars here are ridiculous

also, their highest gas octane is 90 and all cars use it ( @trinis who bawl dey cah use super) and they pay 3 times as much as we do

[sliderz1]

^^now thats messed up

[gencon]

To answer your question, yes they are overpriced, what people will do to make more money at the expense of others. I honestly think the financial elite in Trinidad are saving up to build an installation on the moon, so that they can escape the wrath to come. I say the moon because that's where you'll have to go to escape World War 3 and what will follow for one year after. A few more years!! A few more years!!

BTW- excellent research information there.

[sliderz1]

^^

[*$kїđž!™]

mo money...!!!!!

card dealers just looking to make huge profits.....they know that cars will sell.....once the banks financing then then ppl would go to the banks and pay their monthly installments........

dealers prices are way to high...i am sure they make huge profits......again once the banks financing.....ppl would buy the cars no matter what dotish prices the dealers asking ......

[sr20ve]

None of the above ...You cant have your cake and eat it to ...we have probably the cheapest gas prices in the work because the government subsidize fuel so in return we have high MVT and duties ...if you want pay $20 a gallon for gad instead of $4 you should not complain about the price of cars .

[~Vēġó~]

To answer your question, yes they are overpriced, what people will do to make more money at the expense of others. I honestly think the financial elite in Trinidad are saving up to build an installation on the moon, so that they can escape the wrath to come. I say the moon because that's where you'll have to go to escape World War 3 and what will follow for one year after. A few more years!! A few more years!!

BTW- excellent research information there.

but the dark side of the moon occupied already!!!

[pete]

The higher the markup on the vehicle the more the company selling makes, the more the bank makes in interest and then the more the insurance companies make on the premiums.

[*$kїđž!™]

The higher the markup on the vehicle the more the company selling makes, the more the bank makes in interest and then the more the insurance companies make on the premiums.

yup its the system to blame

[Rallyfignis]

Go Barbados and then come and talk about Trinidad having high car prices...

[toyolink]

A simple example of tax madness is -VAT is charged on MVT (motor vehicle tax) for all foreign used units).
Well,the rules of a tax on a tax in T&T seems to be unique.
No dealer brave enough to challenge this especially since they can just pass it on to the unsuspecting customer.
When BIR used to collect MVT this was not the case,but since customs collecting MVT there is some crazy lame rule that all charges by customs must attract VAT.
The state have yuh head inna vise and yuh nuts in a iron grip!(an nota man saying peep)

[r3iXmann]

Go Barbados and then come and talk about Trinidad having high car prices...

or jamaica as stated earlier

trinis live in a bubble

[Seeker]

Whey.....look at them figures

[S.W 15]

Definitely 2 & 3. It is really ridiculous!!!